Boston Scientific to Acquire Axonics in $3.7B Deal: Transforming the Landscape of Urology and Neuromodulation

Boston scientific to acquire axonics

Boston Scientific Corporation (NYSE: BSX) has disclosed its definitive agreement to purchase Axonics, Inc. (Nasdaq: AXNX), a publicly traded medical technology firm primarily dedicated to advancing and commercializing distinctive devices designed to address urinary and bowel dysfunction. Overall, the equity value is approximately ~$3.7 billion, at a purchase price of $71 in cash per share. Let’s dive into this acquisition and what this means for the future of urology and neuromodulation.

All Things Acquisition

As previously stated, Boston Scientific has definitively declared its acquisition of Axonics in a deal valued at approximately $3.7 billion. The noteworthy product portfolio of Axonics caught the attention of one of the leading medical device companies. Boston Scientific noted that Axonics had developed a product portfolio that seamlessly complements Boston Scientific’s existing urology business. Recognizing the significant potential of devices utilizing sacral neuromodulation (SNM) for the management of overactive bladders (OAB) and incontinence, Boston Scientific acknowledged their impact in a market where the company currently lacks a presence. In essence, Boston Scientific views this transaction as both strategic and financially compelling, enabling the company to enhance its offerings for physicians and their patients through further diversification.

Boston Scientific: The Acquirer   

Established in 1979, Boston Scientific has emerged as a prominent global player in the medical industry, particularly dominating the field of urological devices. In 2021, the company claimed the top spot in overall market share within the U.S. Urological Devices market. Striving to position itself as a comprehensive destination for urological solutions in hospitals, Boston Scientific recognized the significance of acquiring products and solutions outside their existing portfolio.

To achieve this goal, Boston Scientific successfully acquired entities like NxThera, Adaptec, BTG, and Lumenis. These strategic moves, executed in 2018 and 2019, significantly bolstered Boston Scientific’s urology portfolio. Concurrently, the company focused on developing innovative devices, introducing single-use flexible ureteroscopes such as LithoVue and SpaceOar. The acquisition of NxThera also paved the way for the creation of the ​​Rezūm market.

Despite its dominant position in the urology sector, Boston Scientific maintains a robust presence in the neuromodulation market. In 2022, the company secured the second-leading position in this domain. Boston Scientific’s Precision line in neuromodulation encompasses four distinct products: Montage, Spectra, Plus, and Novi. Additionally, the Vercise Genus, a fourth-generation DBS device, further solidifies the company’s standing in the neuromodulation space.

Axonics: The (soon to be) Acquired

In contrast, Axonics, although smaller compared to Boston Scientific, boasts an impressive portfolio that commands respect even among industry giants. Originally established in 2012 as American Restorative Medicine and later rebranded as Axonics Modulation Technologies in 2013, the company specializes in developing innovative solutions for overactive bladder, bowel incontinence, and urinary retention through sacral neuromodulation.

In the realm of neuromodulation, Axonics made a significant impact in 2022 with its Axonics R15 rechargeable sacral nerve stimulation (SNS) device. Previously, Medtronic had a monopoly in the SNS sector until Axonics disrupted the market. The Axonics R15, with a lifespan exceeding 15 years and a compact size comparable to a USB drive, challenged the status quo. Axonics continued to assert its competitiveness by introducing the Axonics R15 non-rechargeable device. In January 2023, Axonics further strengthened its position with the release of the Axonics R20, featuring an extended battery life of over 20 years, a more compact neurostimulator, and a titanium-ceramic case.

Beyond product development, Axonics has expanded its influence through mergers and acquisitions. In February 2021, the company acquired Contura, a hydrogel-based injection manufacturer. This strategic move broadened Axonics’ presence in the market, complementing its existing portfolio of implantable neuromodulation devices for urinary and bowel dysfunction.


In conclusion, the acquisition of Axonics, Inc. by Boston Scientific Corporation marks a significant milestone in the realm of medical technology and reflects the dynamic evolution within the urology and neuromodulation sectors. Boston Scientific’s strategic move to acquire Axonics for an approximate value of ~$3.7 billion underscores its commitment to expanding and diversifying its urology portfolio. The recognition of Axonics’ innovative products, especially in sacral neuromodulation, aligns seamlessly with Boston Scientific’s vision for comprehensive urological solutions. This strategic alliance not only strengthens Boston Scientific’s position as a global leader in urological devices but also signifies a forward-thinking approach to addressing urinary and bowel dysfunction. As the two companies integrate their expertise and resources, the future of urology and neuromodulation holds promise for enhanced medical solutions and improved patient care.



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